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Gadget works alright if there are only a tiny number of enchanters in the world, but if there's anything like the large number that GURPS Magic, or D&D, tends to assume, then magical items will be available for sale, and thus not eligible for Gadget limitations.
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If they're for sale, there'll be a price in GURPS $, so you can do it as Signature Gear.
If you're looking for a system to price out enchantments created using an Advantage-based magic system, just price them out in CP *as though* they were Gadgets, then make the cost equal to that many CPs' worth of Signature Gear. That way, it costs a character the same whether it's a Gadget or SG, and everybody's happy.